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25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 190,600 14,500 176,100 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days' sales in inventory (rounded to the nearest day) 4.5 to 1 times days times days 35 28 Income Tax Expense 47,000 29 Net Income 129,100 30 31 Required: Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36| Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 32 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 4.5 to 1 times days times days to 1 Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) 43 44 times 45 38 Inventory turnover (rounded to two decimal places) 39 Days' sales in inventory (rounded to the nearest day) 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). Profit margin ratio (rounded to one decimal place) Gross margin ratio (rounded to one decimal place) percent percent 40 48 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) 49 50 43 to 1 51 times 52 45 53 46 Compute the following Profitability Ratios for 2016. Again, USE

25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 190,600 14,500 176,100 Current ratio (rounded to one decimal place) 36 Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 38 Inventory turnover (rounded to two decimal places) 39 Days' sales in inventory (rounded to the nearest day) 4.5 to 1 times days times days 35 28 Income Tax Expense 47,000 29 Net Income 129,100 30 31 Required: Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 36| Receivables turnover (rounded to two decimal places) 37 Days to collect (rounded to the nearest whole day) 32 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 4.5 to 1 times days times days to 1 Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) 43 44 times 45 38 Inventory turnover (rounded to two decimal places) 39 Days' sales in inventory (rounded to the nearest day) 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). Profit margin ratio (rounded to one decimal place) Gross margin ratio (rounded to one decimal place) percent percent 40 48 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). Debt to assets (rounded to two decimal places) 44 Times interest earned (rounded to one decimal place) 49 50 43 to 1 51 times 52 45 53 46 Compute the following Profitability Ratios for 2016. Again, USE

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section17.2: Vertical Analysis Of A Balance Sheet
Problem 1OYO
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1. Use ratios to analyze a company's liquidity and solvency. Calculate Select Ratios - Excel FILE НОМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 A A % Alignment Number Conditional Format as Formatting - Table - Paste I Cell Cells Styles - Clipboard Font Styles B36 fx A B C D 1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 2016 2015 185,000 $ 80,000 4 Cash $ 143,000 59,000 134,000 5 Accounts Receivable, Net 6 Inventory 104,000 7 Prepaid Insurance 11,900 5,880 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 12 Current Liabilities 2$ 85,300 $ 96,800 13 Long-term Liabilities 284,000 224,000 Total Liabilities 369,300 299,000 320,800 299,000 14 15 Contributed Capital 16 Retained Earnings Total Stockholders' Equity 227,100 129,080 428,080 17 526,100 18 Total Liabilities and Stockholders' Equity $ 895,400 $ 748,880 19 20 Income Statement $ 3,031,000 1,949,000 1,082,000 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 891,400 Sheet1
Transcribed Image Text:1. Use ratios to analyze a company's liquidity and solvency. Calculate Select Ratios - Excel FILE НОМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 A A % Alignment Number Conditional Format as Formatting - Table - Paste I Cell Cells Styles - Clipboard Font Styles B36 fx A B C D 1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 2016 2015 185,000 $ 80,000 4 Cash $ 143,000 59,000 134,000 5 Accounts Receivable, Net 6 Inventory 104,000 7 Prepaid Insurance 11,900 5,880 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 12 Current Liabilities 2$ 85,300 $ 96,800 13 Long-term Liabilities 284,000 224,000 Total Liabilities 369,300 299,000 320,800 299,000 14 15 Contributed Capital 16 Retained Earnings Total Stockholders' Equity 227,100 129,080 428,080 17 526,100 18 Total Liabilities and Stockholders' Equity $ 895,400 $ 748,880 19 20 Income Statement $ 3,031,000 1,949,000 1,082,000 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 891,400 Sheet1
24 Operating Expenses 25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 28 Income Tax Expense 891,400 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 190,600 14,500 176,100 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 4.5 to 1 47,000 times Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days' sales in inventory (rounded to the nearest day) 36 days times 29 Net Income $ 129,100 37 30 38 31 Required: 39 |days 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 4.5 to 1 times Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) 35 43 to 1 36 44 times |days times 37 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). 38 Days' sales in inventory (rounded to the nearest day) |days 39 percent Profit margin ratio (rounded to one decimal place) Gross margin ratio (rounded to one decimal place) 40 48 41 Compute the following Solvency Ratios for 2016. Again, USE 49 percent 42 THE EXCEL ROUND FUNCTION (fx). 50 43 Debt to assets (rounded to two decimal places) to 1 51 44 Times interest earned (rounded to one decimal place) times 52 45 53 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). Sheet1 Sheet1
Transcribed Image Text:24 Operating Expenses 25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 28 Income Tax Expense 891,400 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 190,600 14,500 176,100 34 ROUND FUNCTION (fx). 35 Current ratio (rounded to one decimal place) 4.5 to 1 47,000 times Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) Days' sales in inventory (rounded to the nearest day) 36 days times 29 Net Income $ 129,100 37 30 38 31 Required: 39 |days 32 Compute the following liquidity ratios for 2016. Round to the 33 required number of decimal places USING THE EXCEL. 34 ROUND FUNCTION (fx). Current ratio (rounded to one decimal place) Receivables turnover (rounded to two decimal places) Days to collect (rounded to the nearest whole day) Inventory turnover (rounded to two decimal places) 40 41 Compute the following Solvency Ratios for 2016. Again, USE 42 THE EXCEL ROUND FUNCTION (fx). 4.5 to 1 times Debt to assets (rounded to two decimal places) Times interest earned (rounded to one decimal place) 35 43 to 1 36 44 times |days times 37 45 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). 38 Days' sales in inventory (rounded to the nearest day) |days 39 percent Profit margin ratio (rounded to one decimal place) Gross margin ratio (rounded to one decimal place) 40 48 41 Compute the following Solvency Ratios for 2016. Again, USE 49 percent 42 THE EXCEL ROUND FUNCTION (fx). 50 43 Debt to assets (rounded to two decimal places) to 1 51 44 Times interest earned (rounded to one decimal place) times 52 45 53 46 Compute the following Profitability Ratios for 2016. Again, USE 47 THE EXCEL ROUND FUNCTION (fx). Sheet1 Sheet1
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